LME price down and still below technical resistance level
December 6, 2022
ALERT! – US & EU DUTIES.
1. LME price closes down again as technical resistance holds within $... per mton. Prevailing downward trend formation still targeting $... per mton or lower in 2023.
2. ALERT! – US & EU DUTIES. NOT CLEAR AND NOT SOON: US and EU discuss potential climate-based duties targeting China.
3. ALERT! – US BILLET. DOWNWARD SPIRAL: US 2023 contractual billet premiums fall to... cent/lb.
4. China’s aluminum price continue to test medium-term technical resistance.
5. LME Cash–3M contango widens to two-year.